Altai Provides Update on Quebec Litigation

Toronto, 05 September 2025 (Globe Newswire) – Altai Sources Inc. (TSXV: ATI) (Altai “or the” Firm “) Introduced At present that in Reference to the Firm’s Declare Filed within the Superior Court docket of Quebec (The” Court docket “) in 2022 (the” Declare “) Towards the Ministry of Vitality and Pure Resent, The Authorities of the Authorities of the Authorities, The Authorities of the Authorities, The Authorities of the Authorities, The Authorities, The Authorities, The Authorities, The Authorities, The Authorities, The Authorities, The Authorities, The Authorities of Eattebec, The Authorities, as Authorities, as Authorities, as Authorities, as Authorities, as Authorities, as Governmenteded). Whether or not quebec, and the legal professional basic of quebec (collectively, the “defendants”), in search of compensatory damages of the defendants of the expropriation in 2022 of the oil and fuel recital of the corporate in Quebec (the ‘expropriation’), the corporate was voluntarily spent the corporate’s firm with regard to the Declare’s firm with regard to the Declare’s firm with regard to the Declare’s firm and the corporate’s firm to nominate a authorized adviser, with a view to the expired monetary burden of this lawsuit. Though the corporate is of the opinion that it has suffered from the oppressive actions of the defendants, the corporate can also be of the opinion that the seek for righteousness in Quebec towards the defendants is pointless. However that the corporate now not has authorized illustration, the corporate has not obtained any reviews from the courtroom or from the defendants with regard to the adjustments within the standing of the declare.

Since 2022, when the corporate’s file was related to different related actions during which different claimants pursue the same exemption towards the identical defendants, progress on this case has been significantly delayed. Regardless of the appreciable efforts and authorized prices that the corporate has incurred, no listening to date has but been established for the primary section of the process. The corporate shouldn’t be assured that some significant progress might be made within the process within the close to future. The corporate is of the opinion that the defendants will proceed to increase and delay the process, specifically with exhaustions and costly discovery necessities, in order that the corporate paralyzes with escalating authorized prices.

The corporate acknowledges the challenges of a procedural timeline with out progress, no visibility and escalating authorized prices, the corporate has proposed the defendants to advertise sure check issues except the corporate’s matter (the “check issues”), earlier than the primary section of the process. In line with this strategy, most information could be suspended and solely the check circumstances would proceed, with solely sure claimants that yield the authorized prices, making it doable to make a extra environment friendly and value -effective course of for the corporate. The strategy to the check circumstances would allow the corporate to cope with the process with out collapsing the appreciable monetary strain of the escalating authorized prices. The defendants have rejected the strategy to the check issues and have refused to deviate from the established order, which, based on the corporate, will financially paralyze the corporate if it continues. The corporate has argued for the courtroom for help on this matter of check issues, however the courtroom has refused to supply such help to the corporate.

In view of the repeated setbacks that the corporate has handed for the reason that expropriation, and the appreciable authorized prices that the corporate has already incurred, the corporate was additional shocked when the defendants submitted a movement for the seek for safety for the prices towards the corporate for an quantity of $ 250,000 (which implies that the corporate would pay these funds to the courtroom for this fund or a bullies of the funds, if the bullies of the bullies of the bullies of the funds, would,,, if the bullies of bullseses,,, if the bullies of the bullies of the bullseseses of the bullies of the bullies,,, if the bullies of the bullies of the funds, or the bullies, or the bullies of the bullies, or the bolding of the bullies, or the bullies of the fundseses, or the bullies of the fundseses, or the bolding of the fundseses, or the bullies of the fundssen, or the bolding of this. defendants). It’s unclear for the corporate why this movement has been established for thus lengthy after the corporate’s case has been established, however the firm is of the opinion that it could be, whether it is granted by the courtroom, to additional deplete the corporate.

The corporate is of the opinion that the strategy to check issues was a ultimate resort answer that may retain the elemental legislation of the corporate to achieve entry to justice, whereas the corporate protects towards the continual and rising monetary burden of this lawsuit. In view of the circumstances, the corporate is of the opinion that the seek for justice in Quebec towards the defendants is ineffective, and so leaving authorized illustration is the one possible possibility to stop an additional erosion of the corporate’s working capital.

Over The corporate
Altai Sources Inc. is a useful resource firm with an oil possession in Alberta and a Canadian funding portfolio consisting of money and kasequivalents in Toronto, Ontario. Further details about the corporate is offered on Sedar+ on http://www.sedarplus.ca and on the web site of the corporate on http://www.altairesources.com.

Take note of future -oriented statements
This press launch incorporates sure statements from the corporate that kind future -oriented statements (the “future -oriented statements”). Ahead -looking statements are primarily based on materials components, expectations or assumptions utilized by the corporate to develop such statements, however that may show to be incorrect. Though the corporate is of the opinion that the expectations which might be mirrored in these future -oriented statements are cheap, it shouldn’t be infinitely positioned as a result of the corporate can’t present certainty that they’ll show to be right. Since future -oriented statements sort out future occasions and circumstances, they’ve inherent dangers and uncertainties on account of their nature. Moreover, occasions or circumstances can result in the precise outcomes being considerably totally different from these predicted on account of quite a few recognized and unknown dangers, uncertainties and different components, a lot of that are outdoors the management of the corporate. The reader is warned to not give pointless dependence on these future -oriented statements. The long run -oriented statements on this press launch are comprised of the date of this and the corporate has not obliged obligations to be publicly up to date or to revise future -oriented statements, both on account of new info, future occasions, or in any other case, until required by the relevant securities legal guidelines.

For extra info, contact:
Kursat Kacira, Chairman and CEO/President
T: (647) 282-8324, E: Kursatkacira@altairesources.ca

Neither the TSX Enterprise Change nor its regulation companies supplier (as a result of that time period is outlined within the coverage from the TSX Enterprise Change) accepts accountability for the sufficientness Or accuracy of this press launch.